2 year discount 65% loan to value

Discounted until 31/01/2020.

Early Repayment Charges apply.

This product may be withdrawn at any time.

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arrangement fee
This can be paid up-front or added to the mortgage. Bear in mind that if you add the fee to your mortgage, you'll pay interest on it at the same rate as your mortgage and as a result will pay more interest over the term of your mortgage.
no fee
booking fee
This fee must be paid when you apply for your mortgage.
initial rate
3.45% discount from our Standard Variable Rate until 31 January 2020
followed by our SVR
Our Standard Variable Rate (or SVR) reflects our cost of lending using a number of factors, including the Bank of England Base Rate. As the SVR is a variable rate it can change at any time.
the overall cost for comparison is 3.9% APRC

Product key features

Product related fees

There is a £99 booking fee that must be paid on application. This fee is non-refundable and non-transferable.

Product incentives

Valuation fee contribution: We will contribute £275 towards the cost of one standard mortgage valuation.

Mortgage amounts

There is a minimum mortgage amount of £50,000.

This product has a maximum mortgage amount of £450,000.

There is a minimum property value of £75,000 which increases to £250,000 for properties located within the M25 corridor.

The maximum loan to value is 65%.

Interest rate floor

The interest rate is floored and cannot fall below 1.29%.

Mortgage repayment terms

The minimum repayment term is 5 years and the maximum repayment term is 35 years.

Early Repayment Charges

Up to 10% of the original mortgage amount can be repaid each year without charge. If the mortgage is redeemed or switched to another product during the discount rate product term then an Early Repayment Charge will apply.

The Early Repayment Charge will be calculated at:

  • 3% of the amount repaid until 31/01/2018;
  • 2% of the amount repaid until 31/01/2019; and
  • 1% of the amount repaid until 31/01/2020.
Representative example

A mortgage of £200,000 payable over 17 years initially on a discounted variable rate until 31 January 2020, currently 1.29% (equal to a 3.45% discount from our SVR) and then our SVR, currently 4.74% for the remaining term would require an initial payment of £1,099.42 followed by 27 monthly payments of £1,092.34 and 176 monthly payments of £1,382.19.

The total amount payable would be £274,257.04 made up of the mortgage amount plus interest (£73,858.04) with a booking fee of £99, legal fees of £150, a telegraphic transfer fee of £25 and mortgage exit fees of £125.

The overall cost for comparison is 3.9% APRC representative.

Zoe, from our mortgage team is happy to help 0121 557 2551* mortgage enquiries
Our branches are open:
Monday - Tuesday09:00 - 17:00
Wednesday09:30 - 17:00
Thursday - Friday09:00 - 17:00
Saturday09:00 - 12:00
*Calls from landlines are charged at the standard rate. Calls from mobiles may vary.

We are here to help you...

  • Discuss your mortgage
  • Answer any questions
  • Check how much you can borrow
  • Help with your application
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Your home may be repossessed if you do not keep up repayments on your mortgage.